Sunshine Biopharma Inc. - SBFM STOCK NEWS

Sunshine Biopharma (NASDAQ: SBFM) reported significant progress for the fiscal year ending December 31, 2022. Key highlights include a cash position of $21 million and a revenue surge from $228,426 in 2021 to $4,345,603 in 2022, largely due to the acquisition of Nora Pharma Inc., which added 49 prescription drugs to their portfolio. The company is advancing its proprietary drug development programs, collaborating with the University of Arizona on COVID-19 treatment and progressing the K1.1 mRNA anticancer initiative. Sunshine Biopharma plans to increase its offerings to 86 generic pharmaceuticals over the next two years.

Sunshine Biopharma (NASDAQ: SBFM) announced a worldwide exclusive license agreement with the University of Arizona for technology related to PLpro protease inhibitors targeting SARS-CoV-2. This collaboration, which began in February 2022, aims to enhance the fight against COVID-19 by providing an additional treatment option beyond existing therapies like Paxlovid®. The licensed technology includes small molecules that inhibit PLpro, essential for the virus's pathogenicity. The agreement marks a significant milestone in Sunshine Biopharma's COVID-19 treatment pipeline, which also includes various cancer therapies.

Sunshine Biopharma announced a research agreement with Sir Mortimer B. Davis Jewish General Hospital to further develop its anticancer drug, Adva-27a. This compound has shown effectiveness against drug-resistant cancer cells from various cancers. Under Dr. Gerald Batist's guidance, the research aims to complete IND-enabling studies, with potential plans for a Phase I clinical trial. Sunshine Biopharma has also expanded its operations by acquiring Nora Pharma Inc., enhancing its generics portfolio significantly. The ongoing focus remains on innovative cancer treatments alongside a robust pipeline, including drugs for liver cancer and COVID-19.

Sunshine Biopharma has announced a $2 million share repurchase program to enhance shareholder value. The program allows for the acquisition of common stock on the open market or through private negotiations, contingent on market conditions and regulatory compliance. As of September 30, 2022, the company reported approximately $40.5 million in cash and equivalents, with 22.6 million shares outstanding. CEO Dr. Steve Slilaty emphasized this program is a strategic move amid ongoing progress in their oncology and antiviral drug development pipeline, including a COVID-19 treatment collaboration with the University of Arizona.

Sunshine Biopharma (NASDAQ: SBFM) recently shared a shareholder letter from CEO Dr. Steve Slilaty, highlighting significant milestones achieved in 2022. The company raised a total of $45.5 million through public and private offerings, enabling expansion in drug development. Key developments included advancements in mRNA-based cancer treatment and a collaboration with the University of Arizona for anti-Coronavirus treatments. Notably, Sunshine acquired Nora Pharma Inc., which offers over 50 generic drugs, enhancing its growth prospects. The company aims for profitability while continuing to invest in proprietary drug development.

Sunshine Biopharma (NASDAQ: SBFM) announced a collaboration with a leading lipid nanoparticle (LNP) company to further develop its mRNA-based anticancer macromolecule, K1.1. The partnership aims to create two LNP formulations, K1.1a and K1.1b, to conduct in vivo studies on human cancer models. Previously, K1.1 has shown effectiveness against various cancer cell types without harming normal human cells. The success of these studies could expedite human clinical trials. Sunshine Biopharma also continues its work on other cancer therapies and a COVID-19 treatment.

Sunshine Biopharma (NASDAQ: SBFM) has announced the acquisition of all outstanding shares of Nora Pharma, a rapidly growing generic pharmaceuticals company in North America. The deal, valued at approximately $21.9 million USD (30 million CAD), was finalized immediately, making Nora a wholly owned subsidiary. This acquisition is expected to enhance Sunshine's revenue stream significantly and solidify its position in the generic prescription drugs market. Nora Pharma will continue operations under its own brand, leveraging Sunshine's resources for accelerated growth.